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Balancing Incentives, Risk and Tolerance of Failure for Collaborative Innovation

Idea posted: July 2014
  • Strategy
  • Innovation & Entrepreneurship

Financial incentives for managers of innovative projects, a firm’s tolerance for failure, and the number of managers involved in the projects all influence resource allocation (and chances for success) for those projects. 

Idea #418
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Generalist CEOs Not Specialists Spur Innovation

Idea posted: March 2014
  • CSR & Governance
  • Innovation & Entrepreneurship
  • Leadership & Change

Generalist CEOs — CEOs who have built their careers in different industries or for different firms — are more likely to spur innovation in their companies than specialist CEOs with technical knowledge who have never left their industries. The major reason is that generalists are not afraid: if they lose their jobs after an ambitious transformative innovation effort fails, their skills and knowledge will easily transfer to another job in another firm or industry. Specialist CEOs must tread more carefully.

Idea #349
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St. Francis Preaching to the Birds, Giotto, 1299, San Francesco Upper Church, Assisi, Italy (Source: Wikipaintings)

Building Trust: The Role of Stakeholders' Personal Values

Idea posted: November 2013
  • CSR & Governance
  • Learning & Behaviour
  • Marketing

For stakeholders, such as employees and customers, the trustworthiness of a company is based on competence and character attributes. New research shows that whether competence or character is more important to establishing trust depends on the personal conservative or liberal values of the stakeholders. This research helps companies develop targeted trust-building strategies.

Idea #262
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Sales in Poznań, December 2011 (Source: Wikimedia Commons)

Myopic Pricing Strategies Lose Seasonal Sales

Idea posted: July 2013
  • Marketing
  • Operations

Dynamic pricing involves setting different prices at different times of the buying season. One of the complexities of dynamic pricing strategy is managing ‘strategic’ consumers who usually wait for end-of-season clearance sales. New research shows that many retailers are setting prices in a way that entice strategic consumers to early season purchasing; this strategy, however, is myopic because it limits potential revenues from end-of-season clearance sales. The researchers show that setting pricing levels in the early season that encourage late season-buying by strategic

Idea #177
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BW of man with telephone

How Time of Day Impacts on Business Conversations

Idea posted: May 2013
  • Finance
  • Leadership & Change
  • Learning & Behaviour
  • Operations

When delivering bad news in a meeting or by phone, the time of day can make a difference in how the news is received. By studying quarterly corporate earnings calls to analysts, researchers showed that the tone of the conversations was more negative in the afternoon than in the morning. In addition, the market had a tendency to overreact to bad news when delivered in the morning. 

Idea #141
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Driving Risk Appetite Higher or Lower: Penalties Vs Rewards

Idea posted: January 2013
  • CSR & Governance
  • Finance
  • Innovation & Entrepreneurship
  • Leadership & Change

‘Innovate or die’ we are told. What if an organization’s ability to innovate could be enhanced by managing risk-taking behaviour through monetary incentive schemes and through a culture that tolerates failure? In this Idea we identify the precise levers that shift risk appetite, and show how they can be tweaked to foster innovation.

Idea #059
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